Question: Spielberg Inc. signed a $ 2 2 0 , 0 0 0 face value note payable that is due after five years to purchase an

Spielberg Inc. signed a $220,000 face value note payable that is due after five years to purchase an equipment with an invoice price of $118,690 as of today. What must be the annual interest rate (rounded off) on this note?
Select one:
A.10%
B.13%
C.9%
D.11%
Spielberg Inc. signed a $ 2 2 0 , 0 0 0 face

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